"International Economics in the Age of Globalization" provides
the intellectual basis for an understanding of the increasingly
integrated world economy. The requisite background is not solely
economic theory, but includes the history and the purposes and
workings of the organizations, laws, instruments, and customary
practices in the international economy.
Economic theory is not limited to the abstract; its concern with
institutions has both a practical and theoretical base. How can one
evaluate a criticism of the World Trade Organization, a fear of the
dangers of financial derivatives, the supposed freedom of a
multinational firm, or the presumed unfairness of dumping without
knowing both theory and institutions? Where did these institutions
come from? What problems are they solving--as well as creating?
This book's balance between theory and institutions is akin to
texts in Public Expenditure or Money and Banking. The leading
international economics texts, in contrast, push the real world
into the background and present the subject as a more specialized
intermediate theory course, accessible only to people who have a
solid theoretical background. The result is that good discussions
of many of the key issues in modern international economics simply
are not available in the curriculum, or accessible to any but
economics majors. This book aims to remedy that failing,
challenging economics majors and non-majors alike. It will also be
of value to students of business and public affairs and to the
economic-literate general public.
General
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